Traders discuss what’s next for Bitcoin after abrupt 3% overnight drop

Traders discuss what’s next for Bitcoin after abrupt 3% overnight drop

Traders are mixed after the price of Bitcoin sees a sudden pullback from $10,950 to $10,630 overnight. The price of Bitcoin (BTC) abruptly dropped on Sep. 29 from $10,950 to $10,630 overnight, recording a 3% drop. Following the rejection at $11,000, the sentiment of traders remains mixed.Some are cautiously optimistic under the premise that BTC reclaims the $10,700 level. Technically, analysts say that the $10.7k area is a critical pivotal price point for Bitcoin in the near term.Others say that the price trend of BTC has reversed in the short term after its rejection. The intense reaction....

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The price of Bitcoin achieved a new all-time high above $57,800 after a brief overnight correction. The price of Bitcoin (BTC) dipped to as low as $53,905 on Binance overnight, recording a sudden 6% drop. But despite the minor correction, the price of Bitcoin quickly recovered thereafter, reaching a new all-time high above $57,800 on Feb. 21.BTC/USDT 4-hour price chart (Binance). Source: TradingView.comWhy did Bitcoin drop and recover so quickly?Although Bitcoin saw a steep drop within merely hours, analysts pinpointed that it fell to the exact bottom of a short-term trendline.John Cho,....